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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Re: Can I contribute to a Traditional IRA Date: 3/11/2002 8:38 PM
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However I do have another question: In early 2001, we put $4,000 in Roth IRA's, buying shares of the Nasdaq 100 (QQQ's). Beacause our AGI was much higher than we estimated, we need to sell the shares and withdraw the funds, which is now worth about $2,800 (ouch!)

If you decide to go the non-deductible traditional IRA route instead of the Roth, you may simply recharacterize the Roth contributions as traditional contributions. It may not be necessary to sell the underlying investment, depending on your custodian's requirements.

--Peter
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